Kroger Real Estate and Blanchard & Calhoun Commercial Break Ground on $74 Million Center in South Carolina

Apr 03, 2013, 09:00 ET from Kroger

HILTON HEAD ISLAND, S.C., April 3, 2013 /PRNewswire/ -- Construction began Wednesday on a joint venture between Kroger Real Estate and Blanchard & Calhoun Commercial at the Shelter Cove Towne Centre, a sprawling 42-acre mixed-use development on Hilton Head Island, a thriving tourist destination on the South Carolina coast. The $74 million project will be built in three phases.

Upon completion, Phase one will include the redevelopment of the existing shopping mall into an upscale walking village encompassing 290,000 square feet of retail, restaurant space and the very first Kroger Marketplace on Hilton Head Island. Views of Broad Creek and exciting new retailers will attract the millions of affluent visitors and residents. Phase two will incorporate a 5 acre park that will connect with the existing 12 mile trail system on Hilton Head Island. Phase three will add 210 waterfront apartments.

"We are very excited about the future and the successful opening of this amazing energy center for Hilton Head Island which will generate millions in revenue for retailers, restaurateurs, hotels, tourist attractions, partners and the city. At the same time, creating a vital hub for people to congregate," said Michael Schlotman, CFO of The Kroger Co.

Zoning for the center was approved by the Hilton Head Island Town Council in December of 2012. With anchor tenants Belk and Kroger in place, the partnership is pursuing commitments from retail, restaurant and service tenants to occupy space at the development.

Upon completion, the Shelter Cove Towne Centre is expected to create more than 450 jobs and generate $5.1 million in annual sales tax revenue.

The new Kroger will be the largest grocery store on Hilton Head Island at 87,588 square feet and will feature an expanded selection of groceries, a Starbucks coffee kiosk, full-service Murray's cheese shop, freshly prepared sushi, a bistro with chef-prepared meals with indoor and outdoor seating available, a walk-in beer cooler with Growler station, expanded wine selection with a Wine Steward and a drive-thru pharmacy window.  The store will also have an outdoor seasonal selling area and bike repair stations on the sidewalk unique to this location.

About Kroger:  Kroger, one of the world's largest retailers, employs more than 339,000 associates who serve customers in 2,422 supermarkets and multi-department stores in 31 states under two dozen local banner names including Kroger, City Market, Dillons, Jay C, Food 4 Less, Fred Meyer, Fry's, King Soopers, QFC, Ralphs and Smith's. The company also operates 790 convenience stores, 344 fine jewelry stores, 1,141 supermarket fuel centers and 37 food processing plants in the U.S. Recognized by Forbes as the most generous company in America, Kroger supports hunger relief, breast cancer awareness, the military and their families, and more than 30,000 schools and grassroots organizations. Kroger contributes food and funds equal to 160 million meals a year through more than 80 Feeding America food bank partners. A leader in supplier diversity, Kroger is a proud member of the Billion Dollar Roundtable and the U.S. Hispanic Chamber's Million Dollar Club.

About Blanchard and Calhoun Commercial Corporation (BCCC): BCCC is one of the largest commercial and residential development companies in the Southeastern US.  Headquartered in Augusta, GA, BCCC develops a variety of retail, multifamily, hospitality, office and major planned residential developments.

For over 25 years, and many economic cycles, BCCC has conservatively and prudently managed its development operations. The company enjoys the enviable reputation of never having developed a property that has not proven successful both aesthetically and financially. The company develops and maintains strong relationships with local administration and community leaders within each market that it operates. Being a responsible corporate citizen and developer has provided continuing opportunities within each of the markets served.

The development team of BCCC consists of more than 30 seasoned professionals who share a personal commitment to developing high quality commercial and residential developments that are both environmental and financially sustainable with the commitment to maintaining the highest standards for integrity and dependability.

Susan DeLano, WDM